“First Cobalt’s strategy is to explore, mine and refine cobalt material in North America with the goal of providing cobalt to the American EV market,” Mell stated. “Henrik’s knowledge of the EV space and experience as a successful OEM automotive manufacturer will play a key role as First Cobalt continues to execute on this strategy. The vision and energy that Henrik has demonstrated throughout his career will be an important asset as the Company continues to develop its projects in North America.”

“The initial resource estimate and the pace of progress at Iron Creek have exceeded our expectations,” Mell stated. “We have delineated a sizeable primary cobalt deposit on patented property, and mineralization continues to expand to the east, west and at depth. The mineralogy is simple, and initial metallurgical test work is very encouraging with high metal recoveries. Cobalt is associated with pyrite rather than minerals containing arsenic, which may offer processing and offtake advantages.”

First Cobalt is a vertically integrated North American pure-play cobalt company. First Cobalt has three significant North American assets: the Iron Creek Project in Idaho, the Canadian Cobalt Camp and the only permitted cobalt refinery in North America capable of producing battery materials. For more information, visit

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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.